nVent Electric PLC (NYSE:NVT) announced a quarterly dividend on Friday, May 10th, Zacks reports. Stockholders of record on Friday, July 19th will be paid a dividend of 0.175 per share on Friday, August 2nd. This represents a $0.70 annualized dividend and a dividend yield of 2.82%. The ex-dividend date is Thursday, July 18th.
nVent Electric has a dividend payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect nVent Electric to earn $2.09 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 33.5%.
Shares of NYSE NVT opened at $24.84 on Tuesday. The company has a quick ratio of 1.22, a current ratio of 1.82 and a debt-to-equity ratio of 0.35. nVent Electric has a fifty-two week low of $19.71 and a fifty-two week high of $29.84. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 14.28 and a beta of 1.54. The stock’s 50-day simple moving average is $24.30.
nVent Electric (NYSE:NVT) last issued its earnings results on Thursday, April 25th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.01. nVent Electric had a return on equity of 11.66% and a net margin of 10.62%. The business had revenue of $538.00 million for the quarter, compared to analyst estimates of $546.43 million. The business’s revenue for the quarter was down .2% compared to the same quarter last year. On average, sell-side analysts forecast that nVent Electric will post 1.87 earnings per share for the current year.
Several research analysts have weighed in on the company. ValuEngine upgraded Zillow Group from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Buckingham Research set a $31.00 target price on nVent Electric and gave the company a “buy” rating in a research note on Friday, April 26th. Finally, Zacks Investment Research upgraded Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $28.67.
In related news, Director Trian Fund Management, L.P. sold 366,901 shares of nVent Electric stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $26.03, for a total value of $9,550,433.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael L. Ducker purchased 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $24.07 per share, for a total transaction of $48,140.00. The disclosure for this purchase can be found here. Insiders sold a total of 4,015,786 shares of company stock worth $101,315,702 over the last quarter. Company insiders own 1.60% of the company’s stock.
nVent Electric Company Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products in the United States, Canada, Mexico, Europe, the Middle East, Africa, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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